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Rural sales share jumps to 38% in 3 years as Renault India targets good urban-rural balance
Rural sales share jumps to 38% in 3 years as Renault India targets good urban-rural balance
Published On: 26 July 2023
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The French carmaker sold about 79,000 units in the country during the fiscal year ending March 2023. About 30,000 units were sold in rural areas and 49,000 units in urban areas.
The French carmaker sold about 79,000 units in the country during the fiscal year ending March 2023. About 30,000 units were sold in rural areas and 49,000 units in urban areas. Renault's penetration in rural and semi-urban areas in India grew from 7% in FY20 to about 38% in FY23.
The carmaker sold about 30,000 units of vehicles in rural areas and 49,000 units in urban areas in FY23.
Renault and Nissan announced new investments of INR 53,000 crore in the Indian market to introduce six new locally produced products, including electric cars.
Renault, a carmaker based in France, has significantly increased its presence in rural and semi-urban areas in India from 7% in FY20 to approximately 38% in FY23. The company aims to achieve a balanced distribution of sales across rural, semi-urban, and urban regions in the long run.
To strengthen its presence in smaller towns, Renault has optimized its infrastructure and undertaken initiatives such as organizing the Gramin Mahotsav and employing Resident Dealers’ Sales Executives (RDSEs) who are locals in their respective cities.
In the fiscal year ending March 2023, Renault's market share in the Indian passenger vehicle industry was around 2%. During this period, the company sold about 79,000 units of vehicles, with 30,000 units sold in rural areas and 49,000 units in urban areas. This marks a significant increase from FY20 when only about 6,000 units were sold in rural areas and around 83,000 units were sold in urban areas.
In collaboration with CSC e-Gramin centers, Renault has partnered to source potential customers for its dealers. Through this initiative, Renault's product range is listed on eStores and made accessible to potential customers in rural areas through village level entrepreneurs (VLEs) who generate inquiries and facilitate sales through the support of the company's dealerships.
Looking ahead, Renault and Nissan jointly announced new investments of INR 53,000 crore in the Indian market, with plans to introduce six new locally produced products, including two small electric cars. Renault is also gearing up to re-enter the midsize SUV segment, where Hyundai's Creta currently holds the market leader position.
Renault exports its Kwid, Triber, and Kiger models to 14 countries, including SAARC countries, Asia Pacific region, South Africa, and East Africa region.
On January 14, 2020, Mercedes-Benz India will announce the country's EQ brand. The EQ is the electric vehicle brand of Mercedes with versions such as the hybrid Crossover of the EQC.
